Is your hotel capitalizing on the Olympics 2016?

The Olympics 2016 are upon us and despite the cloud of pessimism shrouding the event during its build-up, the country has warmed up to the games and viewers worldwide are gripped by the intense fever. Brazil certainly displayed admirable commitment towards ensuring that everything goes as planned – the country invested in over 15,000 new rooms for guests flying in. And with good reason too, hotels in Rio are currently at over 90% occupancy and expected to stay that way for the course of the event. But it’s not just hotels in Rio capitalizing on the sporting excitement, properties around the world are broadcasting the games at their restaurants, bars, and other F&B points in order to attract fans. If your hotel isn’t acknowledging Rio 2016, you could be making a costly mistake! Fortunately, it’s never too late to climb on-board.

Extracting maximal value

Hotels that have taken all the necessary steps to prepare for the Olympics may be enjoying high occupancy and increased cash-flow but that’s not enough! Room sales are fantastic and backed by robust revenue management strategies, the profits generated here could be substantial but there’s always room for improvement. Launching innovative campaigns that encourage guests to spend more within the property can turn a profitable month into a highly lucrative one. You can read more about how your hotel can derive maximum value from each booking here, where we discuss optimizing various points-of-sale for the games.

But this doesn’t have to be limited to only hotels in close proximity to the stadiums. One of the beautiful things about the event is the sheer number of nations participating, paving the way for hotels everywhere to make the most of the fortnight.

Using the Olympics to build your brand

Social media has grown to become the dominant sphere of mass communication for the majority of the world’s spending population today and users love to publicly exhibit their involvement in mainstream events – the Olympics is no exception. Encourage guests to post their pictures on social media with your hotel’s hashtag. This doesn’t just quantify your hotel’s role in helping fans witness the event, it’s also a free and powerful form of marketing! There’s no greater source of credibility for friends and family than a positive recommendation from one of their own.

After their stay, don’t forget to send all guests review requests – this is best automated by integrating your property management system to TripAdvisor’s Review Express tool, considering the number of guests involved. Generating more positive reviews is a great way to improve branding, the positive repercussions of this will last long after the conclusion of the games!